Baker Hughes Company has announced the sale of its Precision Sensors & Instrumentation (PSI) division to Crane Company for a cash consideration of approximately $1.15bn. The deal includes all assets, including the Druck, Panametrics and Reuter-Stokes brands, as well as intellectual property, facilities and associated staff.
The PSI division, part of Baker Hughes’ Industrial & Energy Technology (IET) segment, employs approximately 1,600 people across multiple manufacturing and service sites worldwide. Its technologies are used to measure pressure, flow, humidity, gas and radiation across various industrial sectors. The transaction is subject to customary conditions, including regulatory approvals, and is expected to close by late 2025 or early 2026.
A strategic refocusing move
This divestiture aligns with Baker Hughes’ portfolio management strategy aimed at maximising asset value while reinforcing cash flow resilience. The company intends to redeploy capital from this transaction into segments considered to yield higher returns, consistent with its disciplined capital allocation approach.
According to Lorenzo Simonelli, Chairman and Chief Executive Officer of Baker Hughes, the sale reflects the company’s ongoing effort to concentrate on IET segment core strengths, including rotating equipment, asset performance management, flow control and decarbonisation. He added that the transaction highlights the value of these product lines and their development potential under Crane’s ownership.
Crane strengthens its industrial portfolio
Crane Company, a U.S.-based manufacturer of industrial components for mission-critical applications in aerospace, defence, space and process industries, views this acquisition as a way to strengthen its position in advanced sensor technologies. The company, listed on the New York Stock Exchange, continues its targeted expansion strategy within high-tech industrial niches.
Evercore is acting as financial adviser to Baker Hughes on this transaction. No further details were disclosed regarding the expected impact on revenue or profitability of the divested division prior to the deal’s closure.
